Economic geography is the subfield of human geography that studies economic activity and factors affecting it. It can also be considered a subfield or method in economics.
One of the major subfields of urban economics, economies of agglomeration, explains, in broad terms, how urban agglomeration occurs in locations where cost savings can naturally arise. This term is most often discussed in terms of economic firm productivity. However, agglomeration effects also explain some social phenomena, such as large proportions of the population being clustered in cities and major urban centers. Similar to economies of scale, the costs and benefits of agglomerating increase the larger the agglomerated urban cluster becomes. Several prominent examples of where agglomeration has brought together firms of a specific industry are: Silicon Valley and Los Angeles being hubs of technology and entertainment, respectively, in California, United States; and London, United Kingdom, being a hub of finance.
International political economy (IPE) is the study of how politics shapes the global economy and how the global economy shapes politics. A key focus in IPE is on the power of different actors such as nation states, international organizations and multinational corporations to shape the international economic system and the distributive consequences of international economic activity. It has been described as the study of "the political battle between the winners and losers of global economic exchange."
Charles Poor Kindleberger was an American economic historian and author of over 30 books. His 1978 book Manias, Panics, and Crashes, about speculative stock market bubbles, was reprinted in 2000 after the dot-com bubble. He is well known for his role in developing what would become hegemonic stability theory, arguing that a hegemonic power was needed to maintain a stable international monetary system. He has been referred to as "the master of the genre" on financial crisis by The Economist.
A currency crisis is a type of financial crisis, and is often associated with a real economic crisis. A currency crisis raises the probability of a banking crisis or a default crisis. During a currency crisis the value of foreign denominated debt will rise drastically relative to the declining value of the home currency. Generally doubt exists as to whether a country's central bank has sufficient foreign exchange reserves to maintain the country's fixed exchange rate, if it has any.
Financial contagion refers to "the spread of market disturbances – mostly on the downside – from one country to the other, a process observed through co-movements in exchange rates, stock prices, sovereign spreads, and capital flows". Financial contagion can be a potential risk for countries who are trying to integrate their financial system with international financial markets and institutions. It helps explain an economic crisis extending across neighboring countries, or even regions.
Perry G. Mehrling is professor of economics at Pardee School of Global Studies at Boston University. He was professor of economics at Barnard College in New York City for 30 years. He specializes in the study of financial theory within the history of economics.
A financial crisis is any of a broad variety of situations in which some financial assets suddenly lose a large part of their nominal value. In the 19th and early 20th centuries, many financial crises were associated with banking panics, and many recessions coincided with these panics. Other situations that are often called financial crises include stock market crashes and the bursting of other financial bubbles, currency crises, and sovereign defaults. Financial crises directly result in a loss of paper wealth but do not necessarily result in significant changes in the real economy.
Banking in Canada is one of Canada's most important industries with several banks being among its largest and most profitable companies.
Spatial inequality refers to the unequal distribution of income and resources across geographical regions. Attributable to local differences in infrastructure, geographical features and economies of agglomeration, such inequality remains central to public policy discussions regarding economic inequality more broadly.
The Panic of 1866 was an international financial downturn that accompanied the failure of Overend, Gurney and Company in London, and the corso forzoso abandonment of the silver standard in Italy.
In economics, a spillover is a positive or a negative, but more often negative, impact experienced in one region or across the world due to an independent event occurring from an unrelated environment.
A global recession is a recession that affects many countries around the world—that is, a period of global economic slowdown or declining economic output.
Janelle Knox-Hayes is a Professor of Economic Geography in the Department of Urban Studies and Planning at the Massachusetts Institute of Technology. Her research and teaching explore the institutional nature of social, economic and environmental systems, and the ways in which these are impacted by changing socio-economic spatial and temporal dynamics.
Hélène Rey is a French economist who serves as Professor at London Business School (LBS). Her work focuses on international trade, financial imbalances, financial crises and the international monetary system.
Global Production Networks (GPN) is a concept in developmental literature which refers to "the nexus of interconnected functions, operations and transactions through which a specific product or service is produced, distributed and consumed."
Gianmarco Ireo Paolo Ottaviano is an Italian economist and Professor of Economics at Bocconi University.
Paola Sapienza is an American and Italian economist. She is a member of the Kellogg School of Management faculty at Northwestern University. She is also a research associate at the NBER and CEPR. Her fields of interest include financial economics, cultural economics, and political economy.
Rüdiger Fahlenbrach is a German economist specialised in finance. He is a professor of finance at EPFL and holds the Swiss Finance Institute Senior Research Chair.
Costis Hadjimichalis is a Greek radical urban planner, economic geographer, author, and academic. Hadjimichalis is former Professor economic geography and regional planning and Head of the Department at Harokopio University of Athens. He is known for his work from a Marxist perspective on uneven geographical development in economic geography, urban planning, and regional development with a specific focus on Greece, the EU, and Southern Europe. He is editor of the Greek academic journal Geographies and section editor for Regional Development of the International Encyclopaedia of Human Geography, Elsevier. From 1983 to 2013, he was co-organizer of the International Aegean Seminars, a forum for radical ideas on geography and planning. Hadjimichalis graduated with an engineering degree from The Aristotle University of Thessaloniki in 1968, then an M.A. in urban planning (1976) and a Ph.D. in Economic Geography and Urban Planning (1980) from UCLA.
